Indiana § 27-8-2-1 - Specification of exact payment upon each contingency insured against
Full text of Indiana Indiana Code § 27-8-2-1 — Specification of exact payment upon each contingency insured against, with citation guidance and answers to common questions.
§ 27-8-2-1. Specification of exact payment upon each contingency insured against
Sec. 1. Every policy or certificate issued by any insurance corporation of this state doing business on the assessment plan, or any insurance corporation of any other state authorized to do an assessment insurance business in this state, and providing a payment to be made upon a contingency of death, sickness, disability or accident, shall specify the exact sum of money which it promises to pay upon each contingency insured against, and the number of days after satisfactory proof of the happening of such contingency at which such payment shall be made, and upon the occurrence of such contingency, unless the contract shall have been voided for fraud or breach of its conditions, the corporation shall be obligated to the beneficiary for such payment at the time and to the amount specified in the policy or certificate.
Formerly: Acts 1901, c.214, s.1. As amended by P.L.136-2018, SEC.190.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-8-2-1
What does Indiana Code § 27-8-2-1 cover?
Section 27-8-2-1 ("Specification of exact payment upon each contingency insured against") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-8-2-1?
A common citation format is "Indiana Code § 27-8-2-1" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-8-2-1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.